HealthifyMe announces ESOP, equity buyback worth $12 million

New Delhi: HealthifyMe has announced an equity buyback programme worth $12 million (Rs 90 crore), weeks after its Series C funding round.

"Through this buyback, the company will provide liquidity to almost 100 of its key current and former team members who were early believers in the company's vision and have played a significant role in its success," according to a company statement Monday. Prominent angel investors like TVS Capital Funds’ Managing Director Gopal Srinivasan and Micromax Informatics will also receive up to 15X returns on their investment, it added.

HealthifyMe said the shares of the investors are being bought back by its treasury.


"As part of our employee retention program, we are excited to provide liquidity to teammates who have worked tirelessly through the years shaping our vision to reality,” Tushar Vashisht, cofounder and chief executive of HealthifyMe, said. “I am sure we will continue to do more of this in years to come as well.”

In July, HealthifyMe raised $75 million to deepen its presence in India and Southeast Asia, and expand into North America. The company has doubled its user base and revenue in the last one year. It crossed 25 million downloads recently and was on track to hit $50 million annual recurring revenue (ARR) within the next six months. Currently, 25% of the company's revenue comes from international operations, it added.